New strike in Argentina to stop the fall of prices in the soybean complex

2021-01-21 12:02:28
Machine translation
New strike in Argentina to stop the fall of prices in the soybean complex

Output Transport Union of Argentina announced the beginning of a strike in protest against high taxes and tolls. The truckers block the roads and prevent the supply of grain at port terminals that can stop the export, which only began to recover after nearly a month of strikes by port workers.

 

Delivery of agricultural products at the port of Rosario for the week decreased to 88% and as of January 19 amounted to 294 truck.

 

New problems with the Argentine exports have returned to the stock exchange, the U.S. speculative demand for soybeans and oil, but even before traders closed their long positions and took profits after the rapid growth of prices that led to lower prices. Soy oil is expensive due to the possible reduction of soybean in Argentina as a result of the strike and the recovery of demand for soybean oil from the United States.

 

Yesterday on the stock exchange in Chicago March soybean futures rose 1% to 507,3 $/t, for soybean oil - by 3.5% to 941 $/t, whereas for soybean meal remained at the level of 491,6 $/t

 

Despite the beginning of harvesting soybean in Brazil and the increase of the crop compared to the previous year from 125 to 129-133 million tonnes in the physical market prices on the supply of Brazilian and U.S. soybeans in February-April remained at the level of 530-540 $/MT FOB that supports the prices on Ukrainian soy.

 

In Ukraine earlier in the week, exporters have reduced their purchase prices for soybeans for 5-10 $/t exchange following quotations. But now the price of soy GMOs in the port remain at the level of 510-520 $/t or 17300-17800 UAH/t, while for soybeans non-GMO on the background of shortage of supply again rose to 535-545 $/t at the port or 565-570 $/t at the border with Poland and Belarus.

 

the Processors compete actively with exporters, offer delivery to the factory for soybeans with GMOs 18000-18200 UAH/t and soybeans without GMO 18400-18700 UAH/t (equivalent to 550-570 $/t at the port).

 

According to the CTA, in 2020 Ukraine reduced the export of soybeans compared to the previous year by 40% to 1.79 million tons.

 

the Main buyers of domestic soybean steel:

the

Belarus – 357,43 thousand tonnes 144,97 $million,

Netherlands – 122,08 kt by 46.65 $million,

Greece – 107,77 thousand t 38,52 million $,

Egypt – 88,63 thousand tonnes to 32.3 million $.

  • Turkey 588,7 thousand tons for the sum of 222,69 $million,

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